There are many ways in which a property owner can take advantage of their unexploited property. The most widespread one is by renting it out. However, the way in which houses are available has changed a lot over the last few years. The main reasons for this change are the economic recession and the availability of the property for use by the owner himself, as well as the maintenance and renovations upon departure of the tenant who lived there for years. Consequently, the idea of properties available for a short-term stay was born, also known as BnB.
After a series of actions that must be made by the owner, such as refurbishment if the site is old, the furnishings and full equipment, only then can they create and upload a profile of the property online on one of the various world-renowned platforms for renting apartments for short-term stays. The rental of these apartments is booked per day, so the economic benefits of such an action are way more than a permanent rental.
It is statistically proven that properties which are available on BnB platforms for short-term stay could deliver up to four times more gross profit to the owners of the property, compared to those which have permanent tenants. This fact, in addition to the guaranteed payment of rent, can transform your property into a source of unexpected income, as well as a means of communication, facilitating contact with people from all over the world.
Moreover, the property remains available for the owners so that they can use it even for hosting their own visitors, as they determine the rental availability!
Last but not least, a property used for BnB purposes, however contradictory it may sound, wears down a lot less as it is constantly supervised, so if any kind of wear or damage arises, it is detected, treated and repaired immediately.
Tip: For property owners who have a cottage in touristic areas, this kind of rental seems to be one-way, as it enables them to make use of the space on their vacation, while the rest of the year it will be able to generate revenue instead of remaining empty.
What you should pay attention to (often mistakes):
- Greater revenue expectations: It is a common observation for someone who owns a small property for 2 people to have high hopes that it will always be full at a high price. Unfortunately, this is not the case. It is often more likely that the… traditional way for renting a property is of your best interest.
- Poor management: Being a good host is usually a full-time job. Many owners who take up the task of managing their property often ignore the fact that they should always be online to respond to requests, solve issues, welcome guests at any time of the day (and night!), coordinate cleaning etc.
Eazybnb is here to help, providing integrated management of your property.
First and foremost, we only undertake properties, based on our experience, which we know that will be of the owner’s best interest to use it as a BnB.
By constantly adjusting our price rates per night, depending on the season, offer and demand etc. we manage to achieve the right fullness-price ratio.
We have created the infrastructure so that all communication, every reception, any problem solving, the professional cleaning and any other process seems (and it is) “too much” for the owner to handle, for us it is just our daily routine. And most of the time, this routine is a wonderful experience!